SEC's Piwowar: FSB "knows nothing" about insurance, asset mgt

Isda AGM: SEC commissioner rejects idea of expanded role for FSB

SEC commissioner Michael Piwowar

The Financial Stability Board (FSB) "knows nothing" about the insurance or asset management industries, and should not be given an expanded role in setting global regulatory standards. That was the blunt assessment of commissioner Michael Piwowar of the US Securities and Exchange Commission (SEC), speaking at the annual meeting of the International Swaps and Derivatives Association in Montreal earlier today.

He was responding to fellow panellist - and member of the European Parliament - Kay

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